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What You Need To Know About Subleasing

 November 30, 2017  /  Comments Off on What You Need To Know About Subleasing

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A lease is a contract between a landlord and a tenant. This contract grants the lessee a right to use a property owned by someone else. Values and methods of payment are then established, which are usually set at a particular number of months or years. Breach of this legal binding means consequences for either side.

In subleasing, on the other hand, a third party will be added to the arrangement. The original tenant may have a new tenant, called a sublessee, to rent the property from him or her or fill out the payments for the remainder of the lease. This is different from re-leasing a property in which the landlord voids the lease from the original tenant and makes a completely new contract with a new tenant.

What You Need To Know About Subleasing

The Role of the Sublessee

It may be necessary to find a sublessee because leases are generally arranged for a certain amount of time. However, circumstances may arise that render the tenant unable to pursue that deal.

Sometimes the original tenant, for whatever reason, finds that he or she is unable to go through with the terms of their agreement. In this case, a sublessee may step in and continue the payments instead.

Arrangements Between Lessee and Sublessee

A tenant may also sublease even just a portion of property, depending on the arrangement.

The sublessee may also either pay directly to the landlord or make their payments through the tenant first. The sublessor may also mark up the price of the rent if he or she wishes, granting it is of reasonable value and is legally allowed in their state.

Issues of Ownership and Responsibility

In a subleased property, the original tenant still has ownership of said property. If he or she decides to move back in, then it would be allowed. Yet, it is also dependent on the talked about dwelling duration between the original tenant and the sublessee.

Ultimately, however, the original tenant is responsible for the property. This is true even if it is the sublessee that fails to make their payments or breaches any part of the contract.

However, before being able to sublease your property, it must be with the approval of your landlord. The landlord may demand the eviction of a sublessee, but it is the original tenant who must ask them to leave. Failure to do so may have the original tenant evicted as well.

For Issues About Property Rights and Obligations, Contact a Trusted Real Estate Lawyer

Problems with your landlord/tenant? Do not be afraid to approach a real estate lawyer to help solve your disputes. Legal action may be the best way to solve any woes you may have about leasing and subleasing matters.

Written by The VanMatre Law Firm, one of the top real estate attorneys in Columbia, MO.

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  • Published: 2 weeks ago on November 30, 2017
  • Last Modified: December 1, 2017 @ 6:19 am
  • Filed Under: Legal

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